Top Glove lifts profit margins in 3Q26, shares trade mixed across regional listings

By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-22, 19:44.

Top Glove (MYL7113OO003) has delivered a marked recovery in profitability in its third quarter ended May 31, 2026, with margins expanding on higher selling prices and cost optimisation, according to Malaysian business daily The Star. The glove maker’s shares remain actively traded on Bursa Malaysia and its secondary listing on SGX, where consensus now implies substantial upside from current levels.

What the latest quarter shows

Top Glove’s net profit more than doubled to about RM81 million in its third quarter of financial year 2026 (3Q26), compared with RM34.75 million in the same period a year earlier, helped by stronger margins and higher sales volumes.The Star’s report on Top Glove’s 3Q26 results The reported quarter covers the three months ended May 31, 2026, and reflects the firm’s efforts to adjust to post-pandemic glove demand dynamics.

Revenue increased by 31.9% year-on-year to roughly RM1.1 billion in 3Q26, up from RM830.25 million a year earlier, underscoring a combination of higher average selling prices and incremental demand.The Star’s coverage with detailed revenue figures The performance marks a clear step-up from the subdued earnings phase that followed the exceptional pandemic-era glove boom.

Margins, costs and analyst reaction

According to TA Research, Top Glove’s profit before tax margin expanded by 5.4 percentage points to 9.2% in 3Q26, driven by a 17% increase in average selling prices and a 1% rise in sales volume on a quarter-on-quarter basis.TA Research comments cited by The Star The brokerage highlighted that cost optimisation efforts helped offset rising input costs, even as plant utilisation declined by three percentage points to 86% with production capacity running at around 68 billion pieces.

TA Research has raised its financial year 2026 net profit forecast for Top Glove to RM193 million from RM156.7 million, trimming its assumptions for operating expenses by 2.8% and the effective tax rate by 0.5 percentage points.Analyst forecast changes reported in The Star At the same time, the firm cut its FY27 to FY28 earnings projections by an average of 15.4%, reflecting expectations that sector oversupply and cost pressures will remain in focus for glove producers such as Hartalega and Supermax.

The business behind the numbers

Top Glove is one of the world’s largest producers of rubber and nitrile gloves, supplying medical, industrial and consumer customers across markets in North America, Europe and Asia. Its production footprint is concentrated in Malaysia and Thailand, with some capacity in China, and relies on both natural rubber and synthetic raw materials.

Where the shares trade today

The Top Glove shares (MYL7113OO003) most recently changed hands on SGX under the ticker BVA at around SGD0.23 in trading as of 2026-06-19, 17:04, while the primary listing on Bursa Malaysia last traded at roughly MYR0.71 per share, according to public market data.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell any financial instrument, or a solicitation of any kind. Figures and assessments are based on publicly available sources believed to be reliable at the time of writing, without any guarantee of completeness or accuracy.